Daijiworld Media Network – Mangalore (NR)

Mangalore, Nov 26: A one-day seminar on ‘Role of Valuers in Infrastructure Development’ Institution of Valuers (IOV) Mangalore branch organized by the city branch of Institution of Valuers (IOV) was held at Hotel Utsav on Sunday November 25. 

Speaking on the occasion the additional income tax commissioner K Parashivaiah after inaugurating the seminar advised that it will be convenient and useful if the Income tax department maintains a list of registered valuers in each town.

According to him while engineers in our nation had made a name in the field of civil and IT sector globally, ranking the best in the world, valuers were still to get off the mark in the global valuation field. He urged the members of the city branch of IOV to bring out a complete database on the value of land in and around the city.

Corporation Bank assistant general manager U Suresh Shenoy, the chief guest in his keynote address declared that "infrastructure is the bedrock and platform on which development in any other sphere is possible. Without proper infrastructure the towns and cities will be in doldrums and simply collapse due to the pressures exerted by the developments in other spheres."

Referring to well-known valuer Kanaka Sabhapathy’s book ‘Guidelines on Valuation for Banks’, Shenoy said that banks alone avail the services of valuers for more than 25 purposes. "The valuation report furnished by the valuers is vital for the bank to decide upon the acceptance of security offered towards mortgage and quantum of the loan that can be given," he informed.

Engineer T Ramachandra dealing on the topic “Karnataka Infrastructure - Miles to Go,” pointed out that qualified and experienced valuers played an important role in infrastructure development, when large funds are invested in both public and private sectors.

IOV Mangalore branch chairman TR Bhat, secretary A Christopher, vice-chairman KR Shenoy and convenor S Prasad were present.